Is Australia Set to Overhaul its Business Tax System
After such a brutal year for economies around the world, it is quite possible that some sort of change to the tax system in Australia could be on the way. But first of all, how does the said system in Australia work.
The amount of tax that a business must pay relates to how much money it makes. Its taxable income. They calculate your taxable income based on your assessable income which is your gross amount of money earned from the business and other capital gains. You can claim tax deductions for some elements of running your business. Tax in Australia is often paid in installments to avoid large payments at the end of the tax year. Small businesses like one of the plumbers you can find in Perth AU with an annual turnover of less than 10 million are likely to be eligible to get small business tax concessions from the Australian tax office. The full taxable rate is 30% but if the business is a base rate entity it will be eligible for a lower tax rate of 27.5%. A base rate entity is one that has an aggregated turnover of less than 50 million or 80% of the assessable income is passive income.
Why The Change?
So why should there need to be a change to business tax systems? Well, the COVID-19 pandemic has meant that Australia is, like many other places in the world, in a deep and hopefully short-lasting recession. There has been a large increase in government expenditure, a shrinking in government revenue, and an increased government debt. Tax reform is something the government needs to prepare for as when we are in a post-COVID-19 world there will be needed to generate revenue, improve equity, and support economic growth.
This set of tax reforms has to be different from the previous one If the government is going to pull through this economic recession. Over the past 20 or so years there have been four different attempts to reform tax in Australia. In each case, the general purpose of sitting and reviewing the tax laws was to promote economic growth and to support Australia’s fiscal position. The only problem is that in most of those cases the proposed reforms and laws were almost always left partly unenacted and the goals of the tax law reviews were never truly met.
So, if this is how things have been working then should things be changed now? Well according to the International Money Fund, maybe not quite yet. They believe that introducing bespoke or knee-jerk fundamental reforms or overhauling existing tax law systems could compromise the system completely if done during such an unprecedented economic crisis such as the COVID-19 pandemic. There are emergency taxation and spending measures already in place to deal with the immediate issues at hand, but the catch is that they are only temporary. A more permanent solution for the future will need to be drafted and implemented to avoid long term economic issues.
Currently, the government is in an almost state of triage towards the economy, dealing with the more imminent and harmful dangers, but this, unfortunately, will not last forever. But once the economy is in a more stable place, we will be able to strongly consider the possibility of tax reform in the future and they need to do it with the people in mind. The pandemic has involved a degree of openness with the public. The government asked the public to basically dissect the economy in order to save life’s and now that they have somewhat achieved that they need to be open with the rebuilding of the economy.
How To Conduct a Thorough Business Interview
There is one vital component that makes any successful company work. More important than the product. More vital than good marketing. And that is a good staff.
Your employees are the backbone of your company. Despite automation seeking to take jobs away from people, there will always be a need for human interaction in any profession. This is why it is important to make sure the staff working for you are on the ball and the right fit for the job offered.
Today we want to walk through all the things you need to know and do to conduct a thorough business interview. There is nothing scarier than attending an interview for a new job. But it can also be quite daunting having to interview people. Having to decide between them on who is the right fit for the job. And then the difficult task of telling the failed applicants the didn’t secure the job.
The first step of the interview process starts long before you ever put out the job advertisement. You need to know exactly what the position entails and the type of person you want to be hiring. This means more than just knowing what qualifications they need and what skills. You need to know what type of person you want to be working for you. What energy and dynamic do you want them to bring. This is especially important if they are going to be integrating into a larger workforce.
After that, you need to put together all the information about the job. Pay rate and benefits. Working hours and the contract. You need to anticipate any questions the interviewee is going to ask and have an answer ready. Remember an interview is also a chance for potential staff to see if they even want to work for you.
After that you can put together the interview you will be conducting.
First things first you need to know what questions you are going to ask. You can often find some basic starter questions floating around online. Stuff like going through their CV and making sure they know what they have on it. You’d be surprised how many people don’t know what they have on their CV.
You could then use this or that questions to get to know someone and see if they are a good fit for the work environment. Do they have a good sense of humor? Are they quick on their feet? Questions games are a great way to determine this.
You also want to run them through some hypothetical questions relating to the job positions. Some ‘What If’ scenarios are a fantastic tool to really get a sense of what type of worker they are and if they are right for the position.
If you have done this right you will have had your interviewee’s CV ahead of time. To make sure you are carrying out a really thorough interview it is wise to do some digging into their references. References are the best way to validate if someone is telling the truth and is a good fit for your company. Don’t be afraid to ask them some really tough questions.
You also can do some internet digging on their educational background and previous places of employment. Read reviews and check school ratings. See if the places they are coming from are good enough.
During the interview make sure you grill your potential new staff. Keep things light, but serious. Ask them about their social habits as well. Do they drink? If so how often? Are they a smoker? This is important as smokers tend to take more breaks during a workday than non-smokers.
Another thing you should do is examine a person’s social media accounts. See what sort of things they are posting and what they get up to. Your staff is the face of your business. If they are debasing themselves online that can reflect very poorly on your companies reputation.
Remember. The interview process is vitally important to the success of your company. So don’t rush it. Take the time to make sure your new staff member is who you need.
Why Europe’s Business Priorities are so Different from the USA
There is an endless list of differences between the USA and Europe. In fact, the two are extremely dissimilar in almost all walks of life, down to culture, fashion, food- nothing remains the same. This may seem peculiar, as the USA is basically a product of all those that have immigrated from Europe and other places around the world.
One of the main places that Europe and the USA differ tremendously is when it comes to business priorities. This is mainly down to the differing laws that each one has and current events occurring in each. Here is why Europe’s business priorities are so different from the USA.
It had to be talked about so we may as well get it out of the way first. One of the main business priorities of Europe right now is amending its business laws in accordance with the difference that Brexit will make to how the business will operate. Once Brexit is completely settled and put into action, businesses with links to Britain will no longer be able to operate like it used to. Businesses that trade products in Britain will now have new taxes that they will have to deal with. There will also be an import tax for any products that are made in Britain and are sold in Europe. Because of this, one of the main focuses of Europe right now is finding new connections that they can exchange with within Europe. Doing this will mean that they won’t have to deal with mass inflation when trading and will alleviate a lot of the stress that businesses have been feeling over the last few years.
Something that European businesses are trying to do is create more homegrown produce, which will be much more sustainable than their regular trade deals. However, there is a slight problem that they have faced when trying to do this, which is an infestation of parasites in colder regions which is making it harder to grow local produce. However, they are working on overcoming this and there are plenty of sites such as apofraxeis24-antoniou.gr/symvoules-antimetwpisete-skoulhkia-sto-spiti/ that are offering tips on how to deal with these parasite issues.
Though the USA will experience minor changes because of Brexit, they will not be affected as much and will not have to make as many changes as Europe will. This means their priorities will be much different and they will be worrying about other things.
Following on from the effects of Brexit. It would be impossible to ignore all the cultural changes that are happening in the USA right now that are changing the priorities of the USA. Every day, dozens of riots are occurring all over the country. These riots are creating a gap for looting to occur, which it has. Because of this, many businesses are losing out on vast amounts of profit and are having to spend what profits they do have on repairs or additional security to protect their businesses.
Due to recent race movements along with a lot of political scandals, businesses are now cutting off distributors and other businesses that they had previously worked with, favoring their moral obligation to causes they believe in. Once again, this has left a lot of businesses that remain on the wrong side of history struggling to find custom, meaning that a lot of businesses have found themselves worried that their own businesses may suffer because of this.
This may seem like a confusing topic to conclude as both the USA and Europe are currently dealing with the pandemic as part of everyday life. However, the way in which The USA and Europe are addressing the pandemic are completely different and so their business priorities are much different.
In the USA there has been no formal lockdown and citizens have been informed that they can isolate if they wish, but they are free to go about their daily lives as long as they stay precocious and wear masks. Because of this, though some businesses have been hit by fewer customers, most are still working at the same rate that they usually do. This means that a lot of businesses are still flourishing and reaching sales goals that they have set out to reach. However, some businesses have chosen to close for their protection and will remain closed until the pressure of the pandemic subsides.
Businesses in Europe have been hit a lot worse than those in the USA. This is because there have been country-wide lockdowns put in place which means a lot of businesses have had no choice but to close. Because of this, they have lost out on a vast amount of profit and a lot of businesses have been forced to close permanently. Fortunately, many local governments have made donations to businesses that seem to be suffering most, but for smaller businesses, this financial aid has not been provided and so they are finding themselves in positions where they have had to close.
The main focus for European businesses right now is survival, which can arguably be said to be the priority of all businesses. However, European businesses are under a lot of strain caused by several culminating issues. Because of this, the priorities of businesses in Europe are very different when comparing the priorities of businesses in the USA right now.
Real-Estate Business for Beginners
So you have decided to dip your toes into the wonderful world of real-estate. To that, we say: Welcome! You are about to enter a world that is filled with stress, hard work, and risk. But all of these things are minor in comparison to the benefits that come from real-estate.
Financial security from your property investments. Wonderfully designed living spaces and buildings. Fantastic communities and a diverse mix of people are all on offer in this field of business. It’s no wonder so many people are constantly trying to get their foot on the property ladder. So today we are going to go through some of the basics to get you started in the wonderful world of Real-Estate.
Finding the Right Property
The first step to getting into the world of real-estate is, of course, to find some. But this isn’t as easy as it might sound. Not every property you see is fit for purpose. Especially since we are approaching this from the business side rather than the homeowner area. If you are looking for property for living purposes, we recommend this in-depth guide for the first home owner grant in Victoria to help you get your journey started.
When searching for a property to invest in you need to know what your goals are for the property. Are you looking to rent it out? If so you will need to find a property that is based in an area that appeals to renters rather than buyers. Anywhere near a major city or popular areas of work such as factories, hospitals, and offices.
If you are planning to sell a home outright, you want to look in areas that are designed for long-stay living. Residential areas far out from the main city or beachfront properties are always good investments for this.
The next step is to make sure you carry out a full and in-depth assessment of any property before you buy it. The reason for this is that renovating property costs a fair amount of money. And chances are, if you don’t go in-depth during this stage, you are going to be hit with surprise costs down the line. The biggest killer of anyone’s real-estate aspirations is these hidden costs.
To successfully do this you will need to pay out for a professional assessor to come to examine the property. Do not skimp on this part. Payout more now for good quality assessments so you don’t have to pay out later. If a building is too far gone, we suggest you avoid it. No matter how good a location is, some buildings just aren’t worth your time or money. Leave it for a bigger fish.
This is one of the biggest bits of red-tape you are likely to encounter. If you have a new property and intend to make any alterations or changes to the building or the garden, you may need to secure a building permit first. The rules surrounding what you can and can’t do without a permit differ from state to state, and sometimes city to city as well. So make sure you are keeping on top of all your permits at all times.
We recommend hiring a lawyer to make sure all your legal paperwork is done and above board. If you start construction without a permit and get found out you face possible fines, along with the cost of all the work you already did which has now gone to waste.
How To Compete With Big Name Tech Companies
The technology industry is one that changes at a very rapid pace, with so many product creators out there working on new and inventive ideas there is a lot of work involved when it comes to competing within this industry. If you are a smaller business looking to get ahead within the technology industry then I would recommend you take the time to consider all of your options, when you are a smaller company looking to compete against industry giants you have to consider which projects are going to bring you success and are going to be worth investment.
Standing Out From Competitors
In order to compete, you will have to make sure that the products you are offering are unique and that they stand out against the products that are already available. If you are offering a solution to a real-life issue that cannot be found elsewhere you are greatly increasing your chances of making an impression on the industry and increasing your likelihood of success. Finding the right product to release especially in your early business years can be difficult so be sure to take your time in making the right decision.
Collaboration products are often offered by some of the big names in technology and offer smaller businesses to start off on the right foot, big tech brands often offer collaborations to unique designers or tech creators to offer a joint product to sell on the market. These are great ways for smaller businesses to generate awareness of their brand whilst showing what their brand can offer in terms of their product range. This is also a great way to show that your company has the power to stand up against mainstream industry regulars as you are throwing your company into a situation where huge comparisons are going to be made.
Solve Issues of the Public
As mentioned previously one of the best ways to make sure your company has what it takes to compete with the big industry names is to look for an issue within the public that you can solve. With all the new releases that are constantly being brought out in the technology industry, there is always something that can be changed or altered to make a tech product better. If you want to stand out against the big names you should be looking at their products for improvements that can be made, this will show off your companies initiative as well as proving that you should be taken seriously. One of the biggest issues with some recent tech releases would have to be the sizing of the highly popular earbuds, and when they first released many people found that you could not get the right earbuds if you have small ears, this issue was later rectified by a smaller tech company which saw great success in as little as three months.
One of the biggest things to consider if you want to be successful in technology would have to be listening to customer feedback, this applies to many different businesses and technology is no different. As your business is reliant on the sale of products to your target market it is crucial that you listen to what the customer wants and if they have valid suggestions for improvement you should listen. If you want to compete with the big industry names then you need to be prepared to do what you can to bring more custom your way. If this requires you to listen directly to what your customers want then you should be prepared to do so, in order to increase your profits and build brand awareness.
How Religious Holidays Become so Profitable
There has been a huge shift in recent years with religious holidays becoming much more of a commercialized event, with tradition playing less of a part in these holidays than they used to. I will be looking at many different holidays that originate from sources of religion and how they are considered within modern society. Nowadays old religious traditions have been left behind for holiday events that are filled with gifts of monetary value instead of having proper thought and meaning behind them. I will also be considering how our consumerist society has influenced how people perceive religious holidays and how they use the holidays for their own gain and to make a decent profit.
Christmas is considered by many to be one of the most commercial religious holidays out of them all, with a strong religious background and story it is surprising that so many of us all over the world do not consider Christmas a religious holiday. In the past Christmas was a time for Christians to celebrate the story of Jesus’ birth and going to church was a huge part of the celebration. Nowadays Christmas is very different with many retail outlets taking advantage of the festive season to generate profit, Christmas is widely considered to be a time for giving and receiving presents and unfortunately, the original Christian story is declining in terms of being referenced during the festive period. The shops always come out with Christmas merchandise and decorations that focus on the idea of Father Christmas and getting presents which has encouraged the growth of the idea of a commercialized Christmas.
This religious holiday would have to be one of the most profitable on this list with retailers preparing for the season months in advance as they are set to make some serious money with everyone shopping for presents.
Ramadan is one of the most important months in Islamic culture where strict fasting and praying is conducted in order for Muslims to feel closer to God. This celebration has not seen a smooch of a decline in tradition in comparison to Christmas but it could be argued that even this holiday is not what it once was. Ranmadam is an opportunity to spend time with family and loved ones as you take part in this highly valued holiday, however, it seems that many people are more concerned with buying ramadan geschenke fur kinder, which could suggest that this holiday has also seen a change towards a more profit-orientated holiday.
Thanksgiving is an American holiday that was originally celebrated to give thanks for the good harvest, Thanksgiving is a holiday that has seen the least change with American families taking the time to spend time with loved ones and appreciate the delicious food that they have access to. This holiday however has become more profitable with supermarkets stocking up on novelty Thanksgiving stock and food products with the sole purpose of making a profit. When it comes to Thanksgiving you could argue that it is the retailers who have changed this holiday into something to make a profit from rather than those who are celebrating it.
This Muslim holiday is in recognition of the effort that was used to fast and abide by a strict praying regime, in order to become closer to God Muslims take part in Ramadan which ends with a huge celebration on Eid. This holiday should be taken seriously and is usually a time to feel proud of what you have achieved when fasting. Nowadays this holiday has changed to become a time that is orientated around giving and receiving gifts and celebrations when it is not actually deserved.
The final holiday on this list that has become very profitable would have to be Hanukkah, this Jewish holiday is normally celebrated with time spent with loved ones, eating good food, and coming together to light candles in commemoration. This has since changed with many people avoiding the religious sentiment and focusing on materialistic aspects of the holiday such as gift-giving and putting on large events. This is not the traditional way to celebrate this event and tradition states that Hanukkah is a time for reflection with family.
How Businesses are Using Technology to Solve Multiple Business Problems
Successful companies and businesses have already started realizing that investing in better technology can lead to optimal business results and outcomes in long run. Financially successful businesses are now allotting a major part of their budget in to technology. Technology is commonly leveraged today by different businesses to solve moderate to complex business problems related to customer support, management, decision making and advertising. They are adopting different technologies and software programs to solve different business problems successfully. The entire process of problem solving in a business involves collecting and analyzing business data and coming forth with solutions that can solve the issues within the business.
Enterprise Resource Planning
Most of the small businesses never consider the term “enterprise” equal to mom-and-pop and local business. There are several enterprise resource planning software developers who are now focusing on customizing the software to meet the end needs of mid-sized and small businesses. The successful multinational mega industries and businesses are already using ERP to solve most of the business problems efficiently in varied departments, including finance, accounting, manufacturing as well as sales. When any blockage occurs within the business process, the management team use different technologies to solve the problems.
Small businesses can make use of scaled down version of ERP software that can help them coordinate the back and front office activities efficiently.
Many multinational companies have their branch offices at different locations and all are functioning independently from each other. Managers, working professionals and operation heads in all the branches need dedicated tools to keep the operation running smoothly and help the location stay on same page with business practices and policies which are escalated to the head office. Such technologies ensure uniform level of services for customers that carry a name, regardless of their physical location.
Collaborative tools can solve multiple problems and help multiple small business locations to conduct businesses on behalf of large organization and corporate entities. Instead of wasting money on regular travels of managers and vice presidents to each location, you must invest in collaborative tools to ensure business conformity and it allows all branches to join in a uniform platform via video webcast and conference. In such a setting, most of the problems can be solved by bringing them to attention of all business heads and decisions can be made commonly after voice vote and analyzing.
Business Analysing Tools
Business can afford to hire dedicated staff and professionals to operate a separate department of business analytics. But for small businesses, the owner and the managers are the head of the businesses that look after the entire business process. So, instead of outsourcing the function or hiring professionals, small businesses can opt for the business analysis tools to crunch data. For instance, if the sales performance in the first quarter is below average because of lower customer traffic, the manager can plug the data into spreadsheet to conduct sensitive data analysis about the future performance. If the sales are expected to fall again in future, business can look for other methods like advertising to solve the problems related to falling revenues.
Decision Support System
Concerns and predictions that computer systems are likely to overtake and out think human intellects are completely upon us. Decision support system is not a new concept indeed. But as the processing power of computers is increasing, the role of these machines is becoming quite important for businesses in crucial decision making process. It helps businesses to make wise and informed business decisions.
The system actually focuses on compiling all the raw data of businesses and helping the businesses to predict the problems that can’t be foreseen by human alone. Another effective way in which business can now use the system in an artificial intelligence or AI technology to help professionals make informed decisions when they face any issue during customer handling.
While ERM system mainly focuses on business operations, the CRM system externally focuses on customers of businesses. The primary goal of the technology is to create comprehensive database of customers which can be used by businesses to heighten their sales, revenue, improve customer retention and make good relationship with customers. It efficiently offers individualized or personalized experience to all customers.
The CRM platforms come with a variety of sales, marketing and service automation abilities that allow the professionals to monitor continually and improvise the customer support and satisfaction. It is the most effective system that can capture almost infinite amount of customer data and allows professional use the data to refine and personalize the marketing offers as well as sales pitches as per customer needs.
The interpretation, discovery, communication of useful patterns in data, Analytics has emerged as the most essential tool for all businesses today that are looking for strategic investment of their resources. There are different analytic tools online that extend to different areas like behavioural analytics software which are widely used to assess the potential candidates, predictive analytics that find for signals about where specific market may be going and educational analytics that improvise the education.
Without data collection, it won’t be possible to pinpoint the areas of concern or evaluate the performance of a business. Analytics perform this job and help organizations and businesses to create a chart and database to succeed in their competitive ocean.
AI technology or Artificial Intelligence has been designed to learn from the interactions over time and optimize the relevance and utility. Today AI technology is being used by almost all businesses. The technology can collect data at a much higher rate than human and this makes it perfect solution for faster routine tasks like setting up calendars to working on complex projects and more. AI technology is being used mainly to heighten the support teams and offer them early self service to customers. The technology is likely to improve in future to enhance its utility with the users.
So, this is how businesses are leveraging technology today to overcome from a variety of business problems efficiently.
How Artificial Intelligence Technology Will Reform the Retail Industry and Meet the End Needs of Future Buyers?
The global retail industry has been consistently transforming and experienced many technological updates. To keep pace with the fast changing customer shopping behaviours and to stay ahead, retailers are now focusing to adopt the latest technologies to survive the fierce competition in the competitive ocean. Retailers from across the world are investing in cutting-edge and innovative technologies, of which AI technology or Artificial Intelligence is becoming more responsive to demand and customer centric in the industry.
Nearly all market segments, business domains and industries are actively investing Artificial Intelligence technology and looking forward to harness this technology for the benefit of their business. AI technology is believed to have great impact on almost all the operations within retail industry. It is helping retailers to transform the infrastructure of their store and boost the conventional business processing. Soon you will see the traditional brick and mortar store to function more like a virtual retail store with the deployment of Artificial Intelligence technology. Let us have a look how Artificial Intelligence technology can revolutionize the retail industry and address the needs of future online buyers.
Behaviour Analytics and Prediction
The Artificial Intelligence is likely to become a crucial tool for all decision makers in retail businesses. The technology is likely to help retailers and business managers to predict and find out the customer’s demands and their needs, thereby making the businesses more customer-centric in future. The AI-driven analytics platform will be used to collect required data and with such data retailers can make informed and wise decisions about quantity of stock to be ordered depending upon the behaviour and habits of future shoppers. This will heighten the efficiency, while saving money and time for the retailers.
Plus, the Artificial Intelligence algorithms would help retailers to run targeted marketing campaigns depending upon the customer’s preferences, geographical locations and buying behaviour. This in turn will help enhance the customer loyalty and retention because tailored experience is always best to show caring to customers.
Smart Shelves with Virtual Racks of Products
Artificial Intelligence technology is significantly changing the way customers used to buy products earlier. With virtual racks it would become easier for customers to find right items, styles, product information and designs based on their preferences. Virtual racks with smart gesture screen is a great way to enhance customer experience as it allows the shoppers to choose from different options which are not possible in offline store because of space limitation.
Gone are the days for displaying products on shelves of departmental stores. Now it is the time for smart shelves that allow customers to interact using different technologies like 3D cameras, proximity sensors, RFID and microphones. Such technologies are truly redefining the entire process of retail shopping.
Smart Mirrors with Digital Trail Rooms
When shopping for any fashion clothing in store or online store, customers tend to get confused about how the dress would look on them and it can prove to be clumsy at times. So, to simplify the process, most of the global retailers are now adopting a new concept called digital trail room which is based on the latest Artificial Intelligence technology.
The digital trail rooms are designed with smart mirrors and customers can try out the products and dresses in the trail room without the need of changing the clothes again and again actually. With the use of touch interface and gesture screen, customer can easily mix and match the dresses to find out the ultimate look in real time. Such digital trail rooms are not just only limited for fashion retailers, but beauty and cosmetic retailers can also use such technologies to allow their customers try different products without actually using them on their skin.
Robotic Assistance is quickly emerging as the first customer touch point in the retail industry. Robots were already in use in different warehouses of retail industry and hence it is common to see beetle like robots around the warehouses with vertical shelves stacked on them. With Artificial Intelligence technology the robotics can further be driven creative and make it innovative for boosting the retail processes from supply chain to logistics to store operation, marketing and merchandising sales. The robots can be strategized to heighten the customer experience, like self service scanning, self checkouts, pre-order and payments, mobile shopping and more.
Chatbots are being increasingly used in retail industry. It is the AI Powered program that focuses on connecting with customers via text, chat or voice based conversations. The AI powered chatbots allow the retailers to connect, engage and support the customers in the most effective way. It allows retailers to handle a variety of customer queries promptly, whether in-store or online. The chatbots are configured in such a way that it answers the queries promptly, suggest products to customers and provide them other support efficiently and quickly.
Some of the AI powered chatbots can also capture customer data and provide better analytics related to customer shopping behaviour and their interest in particular products. When customers get prompt support and tailored attention, they are likely to get attached with your business and become loyal customer to your brand.
From generating jobs in the market to enhancing the personalized customer service and experiences, Artificial Intelligence technology is the future of global retail industry. All these above-mentioned situations are not a fantasy, but it is something that future retail shoppers will experience in coming years. The AI technology will definitely rule the retail industry and help all businesses and brands to become efficient in retail operations and more customer-centric. The AI enabled retailers are likely to excel and help customers to feel more connected, social, and mobile and also open the doors to a variety of choices.
So, ensure that your retail brand is ready to harness the real power of AI technology in coming years and consult the experts in the field to discover how Artificial Intelligence technology can help your brand to excel in 2020 and beyond. Ensure to use the right technology to excel in retail business.
Emerging Technologies You Must Learn in 2020
We are registering a drastic change that technology has made in our life. Technologies have not only made our life comfortable and easy, but without technologies we can’t imagine our life today. It is not only affecting the social life of people, but also dominating the professional life equally. We all know that the only thing that is consistent in today’s digital world is change. Likewise, the technology that we use today may get improved or replaced by another latest technology. It is quite obvious to forecast the trending and upcoming technologies. Below is the list of some best technologies that are worth learning in 2020.
AI Technology or Artificial Intelligence
AI technology is not the new concept indeed as it has garnered lots of hypes in the technological field. Many businesses and retailers are already using AI technology and it is helping them to yield efficient results. It is the most promising technology in 2020 and has started to power a variety of gadgets and devices that we commonly use today.
Most of the applications that we use like Facebook, Amazon, YouTube and Twitter heavily rely on AI technology. The biggest application that relies on AI is machine learning; the highest paying computer skill of today.
Internet of Things
IoT of Internet of Things is another trending and most popular technology trend in 2020. There are many real world applications that are already using this technology. IoT is the technology or the process of connecting multiple appliances or devices together so that users can enjoy a reliable and secure connection between them.
The focus of this technology is to build a robust a connection for better automation and user experience. However, there is not many devices that are powered by IoT as of now and many updates are still required in this technology. So, there is a higher demand of IoT engineers in future and it is the best opportunity for those who are interested in this field.
Bitcoins and Cryptocurrency are the virtual currency that was used for make online transactions and it is quite popular indeed. Cryptography is the most of reliable and secured technique of transactions and it is only possible because of the latest Blockchain technology. Blockchain is the most secured and trusted technology in 2020 that is worth learning. It is linked with online transactions and considered secured because of its secure and un-centralized transactions functions.
There are many digital currencies that are using Cryptocurrency like the Facebook Libra Cryptocurrency and it is powered by Blockchain. So, learning about Blockchain in 2020 is a worthy skill.
Edge Computing is the latest technology trend that was introduced as the better replacement of Cloud Computing. Being the better alternative to Cloud Computing, it comes with many improvements and updates which make it the worth using technology in 2020. In simple terms, Edge Computing is the upgraded and better version of Cloud Computing.
In Cloud Computing, we all upload process and regain the stored data from servers or cloud, which are located at far away geographical locations. So, the process of uploading and regaining of data is relatively slower with cloud computing. Edge Computing is launched with better techniques to solve these issues by bypassing the latency caused by cloud computing. This technology is used today for processing of time-sensitive data in the remote locations with no connectivity or limited connectivity to centralized location. It such situation, the technology works as mini data centre for faster data uploading and retrieval. Edge Computing also helps in enhancing the use of IoT devices and by 2022 the world edge computing market is expected to cross $6.72 billion. With its growing market demands, it will also create different jobs, especially for the software engineers.
For many, cybersecurity is not a new technology as it has been around for quite a while, over time the technology has evolved significantly like other technologies. Since the cyber threats are consistent upgrading and spiteful hackers are trying new ways to access data illegally, toughest security measures are required and new technologies are adapted to enhance the cybersecurity.
Cybersecurity is constantly evolving with latest technologies to defend against those malevolent hackers and their threats.
Mixed Reality is the combination of Augmented Reality and Virtual Reality. It is the combined practice of both VR and AR technologies simultaneously. With the help of AR and VR technology we can now create a stimulated and different environment to interact with the environment virtually. Combining these technologies together will offer you with a new experience and it is named as Mixed Reality.
In Mixed Reality, we tend to use both AR and VR simultaneously to experience the virtual and real world in real time. Besides, this new technology has the highest potential and many industries have already started using it because of its multiple benefits.
Voice technology is still a underestimated technology in 2020, but it is the most potential technology to learn and it is consider as the future technology by many experts. We all are using voice technology in Smartphone and smart gadgets like Google Assistance, Siri in iPhone assistance and more.
In coming years, you are likely to use voice technology to interact with gadgets and machines around you by using different technologies like machine learning and NLP.
Computer Vision is another powerful and latest technology to learn about in 2020. It is the technology that is inspired by the way human eyes work. Humans see different objects and substances around them with their eyes and similarly computer uses the cameras to observe and see the objects that are placed around them. But, computer uses a variety of Deep Learning Technologies to forecast and classify the object around them.
If you are planning to learn about Computer Vision technology in 2020, there are different framework to help you with, including SimpleCV, OpenCV, OpenFace and more.
Hopefully, you have learned about all the latest and emerging technologies in 2020 and now you can choose the right technology as per your interest.
Here Are The 4 Evolving Technology Areas Of Smart Cybersecurity
There is increasing use of technology, especially, in the current times where most of the processes have been automated. From people’s personal lives to business activities, everything is being done virtually with the help of the latest technologies to bring about efficiency in the entire framework.
Due to the high dependency of the people on technology-driven processes, cybersecurity has become a major issue in today’s world. To ensure safety and security in the current automated world, the people need to focus heavily on cybersecurity and find ways to strengthen the security so that they can easily use the technology without facing threats and attacks.
What is Cybersecurity?
Cybersecurity is a practice of following various sets of rules and regulations to ensure the safety and security of computers and other technology-driven devices. These practices will ensure that the data doesn’t get stolen or accessed by an unauthorized user. It prevents cyber theft, attacks, snooping, etc.
Moreover, these security patterns also save the computer from security threats that could hamper its functioning, make it unresponsive or damage the entire system.
Apart from computer and mobile devices, cybersecurity practices are also used to secure various networks, servers, nodes, and other peripherals.
As most of the processes have been automated these days, cybersecurity alone is not sufficient to contain all the threats that users might face in the current scenario. There is a requirement of Smart Cybersecurity practices to strengthen the processes by making them“smart”.
Why is there a need for smart cybersecurity?
The need for Smart Cybersecurity could easily be explained by taking the example of the recent ransomware attacks since 2019 that shook the entire technology-based industry and made them extremely vulnerable to attacks. There was a huge rise of ransomware attacks since 2019 making it a rise of 25% or more compared to the past. This made all the networks and other technological devices vulnerable until the developers of cybersecurity started working on new techniques and applications to combat the attacks.
After knowing about the ransomware situation, it could be easily understood how technology is extremely dynamic and changes rapidly. It only takes a few moments to develop a new security threat that has no way of being handled by the current cybersecurity systems.
This creates an urgent need to develop a system that updates as frequently as the viruses do. A system that is capable of adapting to all new security threats and attacks without heavily depending on manual processes that could be quite slow. This is exactly why there is an urgent need to develop smart cybersecurity processes.
Artificial Intelligence or AI is a popular technology that is being increasingly worked upon over the past decade to expand the capabilities of various processes. It is a technology that bridges that gap between the machines and the human mind by emulating human performance as it tries to learn, evaluate different aspects, and finally, conclude things by itself. It can understand complex concepts and engage in conversations just like a human does. This technology can replace humans for various activities and lead to the automation of different process easily.
The AI technologies are generally combined with Machine Learning to formulate great techniques of smart cybersecurity. Heavy research investment is being done in this sector to implement AI and ML in cybersecurity processes to make it automated which will make it more efficient and adaptive to changes. For innovation in the sectors, both private and public, AI has become the key aspect that is being worked upon for advancement in cybersecurity technologies. AI technologies, theoretically, can anticipate various threats and attacks. It could identify, prevent, and combat various sophisticated malware and viruses that could serve as a potential threat to the security of various technological processes.
Machine Learning refers to making a computer learn different things so that it could itself without relying heavily on its programming code. It is an extremely important aspect of smart cybersecurity systems as in its absence, rapid automation for identifying new cyber threats and attacks would not be possible. Artificial Intelligence generally has to be combined with Machine Learning to ensure effective results. This system could detect various anomalies and other threats that could harm a network even without the help of signatures. It could help in understanding the nature of various attacks through correlation which can make the system prepared for new types of attacks and reduce its vulnerability.
Supercomputers are computers that have an extensive amount of storage capacity and extremely-fast and accurate calculation powers that could provide the results of the most difficult calculations in a matter of seconds. These computers can perform the tasks instantly that would have not been possible in other types of computers.
For the future of automation, supercomputers work like comprehensive engines. These computers contribute heavily to scientific discoveries and innovations. Due to their extreme capabilities, supercomputers can act as a powerful resource for automating the processes of cybersecurity by detecting various types of threats and attacks with the help of the most accurate model. They can easily detect any sort of anomaly and make it easier for the processes to understand the situation.
In general, Adaptive networks could be said to be automated networks that could easily track, configure, and manage the situation as per the needs. It could adapt itself to the changing requirements. They can easily generate data on the real-time efficiency of the network while also finding out the vulnerabilities. They can apply machine learning further, to analyze the data, and predict any network threats and issues.
These features can help in creating a stable and flexible network.
With the help of these four evolving technologies, the smart cybersecurity processes will be ready to face future challenges. They will easily identify various cyber threats to minimize the security issues that one faces on a network. They will also help in neutralizing the threats and finding remedies to avoid any harsh consequences.